Key Focus On The Earnings Season

The FBM KLCI added strength with the buying support observed within Genting and
Banking heavyweights. Meanwhile, the US stock markets were closed for the
President’s Day public holiday. This week, the market will be monitoring the (i) FOMC
meeting minutes, (ii) unemployment claims and (iii) the US PMI data on Thursday.
On the local front, we expect continuation of buying interest on the broader market
ahead of the earnings season. On the commodity market, the Brent oil price traded
firmer above the USD83/bbl mark as concerns over the tensions in the Middle East
persisted, while the FCPO prices stayed above RM3,800 for the third session.

Sectors focus: With corporate earnings season around the corner, we believe traders
will be looking for opportunities within the fundamentally solid companies. We
noticed Consumer stocks may perform well with the normalising costs throughout
last year and increasing demand during the final quarter of 2023. Meanwhile, we
believe the Plantation sector could trend firmly higher with the momentum building
up recently, in tandem with the FCPO prices. Besides, the Technology sector may
turn attractive with the ongoing bidding for NIISe 2.0 project.

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